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Light News Ahead of FOMC - Charts Not Impressive

Posted on January 28, 2009 at 5:06 in Fundamental Analysis, News: Scheduled and Breaking, Technical Analysis by Jerry Furst

By Jerry Furst- Sr Analyst “1st on Forex” www.Investors-Education-Network.com

No Surprise Expected - “Jawboning” Ahead

With rates effectively at 0-0.25% Bernanke and the Fed can really only “Jawbone” at this time. Rumors and fears of Quantitative easing seem to be the “built-in” expectations.

Charts Not Showing thier Hand

A scan of the charts shows nothing “exciting” as price is likely settling in for the FOMC announcement at 2:15 EST.


GBP-USD 4 Hour chart(click to enlarge)

The Pound-Dollar had been sporting a Head and Shoulder pattern in progress, however, the chart above shows price coming back up to resistance at the neckline.

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Tags: Bernanke, charting, FOMC, Forex, FX, head and shoulder, Technical Analysis, trading, webinar

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